Streetbeat News

Stock Prices

ALB

CLSK

FUFU

GTLB

MARA

MSTR

SEMR

SFIX

SMCI

GitLab Inc. (GTLB) shares fell 22.4% in pre-market trading after issuing a weak earnings forecast for FY25, below analyst expectations. Other stocks such as Stitch Fix (SFIX), Semrush Holdings (SEMR), MicroStrategy (MSTR), Ethereal Tech (FUFU), CleanSpark (CLSK), Albemarle Corporation (ALB), Marathon Digital Holdings (MARA), and Super Micro Computer (SMCI) also recorded losses in pre-market trading due to various factors including disappointing financial results, proposed offerings, and market volatility.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 10:00 am

TSLA

Gordon Johnson of GLJ Research questions the high valuation of Tesla's energy storage business compared to its electric-vehicle manufacturing downturn. He highlights the discrepancy in valuation multiples between Tesla and global battery leaders like LG Chem, suggesting Tesla's energy segment is overvalued. Johnson also criticizes Tesla's in-house 4680 battery cells as a 'manufacturing disaster.' Tesla's stock experienced a 7% drop, attributed to weakening EV demand and competition, with analysts predicting another quarter of subpar performance.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 9:44 am

NIO

TSLA

Nio Inc's sub-brand Alps is set to launch its first model, an electric vehicle touted as 'better than Tesla's Model Y,' according to new spy shots. The vehicle, expected to be a mid-size SUV with features like battery swap and faster charging, aims to be cheaper than the Model Y. The model is scheduled for launch in October. Tesla's Model Y was the best-selling vehicle worldwide in 2023, with significant sales in China. Nio is expected to report a Q4 loss of 51 cents per share, following a Q3 net loss of 37 cents per share.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 8:40 am

BTCUSD

SHIBUSD

SMCI

In 2023, Bitcoin and Shiba Inu saw significant returns, with Bitcoin gaining over 155% and SHIB 260%. Super Micro Computer (SMCI) outperformed both, with a 278% return, attributed to its S&P 500 inclusion. The crypto market's recovery was driven by regulatory approvals and anticipation of a spot Bitcoin ETF, while AI stocks like SMCI benefited from the broader risk-on sentiment.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 8:09 am

SPR

The FAA has identified Boeing Co (NYSE:BA) and Spirit AeroSystems Holdings Inc (NYSE:SPR) for non-compliance with manufacturing quality control regulations during an audit of the 737 MAX production line. The audit revealed issues in manufacturing process control, parts handling, and storage. Both companies are working with the FAA to address these issues. This scrutiny adds to Boeing's ongoing quality control challenges, including a recent FAA ultimatum to address systemic issues within 90 days.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 8:03 am

BTCUSD

ETHUSD

A CryptoPunk NFT, #3100, sold for $16M in Ethereum, marking a significant sale amid a resurgence in the NFT market and growing crypto risk appetite. This sale coincides with Bitcoin nearing its all-time high, driven by ETF demand and the upcoming halving event.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 7:31 am

JOAN

JWN

NIO

ROST

TGT

The CNN Money Fear and Greed index indicates 'Extreme Greed' in the market, despite a drop in the S&P 500 and Nasdaq from record highs. Macy's shares surged 13.6% after a raised acquisition offer, while JOANN Inc. shares plummeted 44% amid bankruptcy considerations. The market awaits earnings from Nordstrom, NIO, Target, and Ross Stores.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 7:25 am

BTCUSD

Anthony Scaramucci, former Trump aide and founder of SkyBridge Capital, believes Joe Biden's potential re-election in 2024 will positively impact Bitcoin and the markets. He emphasized the importance of government stability and the rule of law for the cryptocurrency market, suggesting that a Biden victory would ensure a predictable legal process for potential cryptocurrency regulation. BTC was trading up 5.93% at the time of the interview.

Portfolio Pulse from Mehab Qureshi

March 05, 2024 | 7:21 am

AVAV

JWN

ROST

SFIX

TGT

U.S. stock futures traded lower, with focus on Target's expected earnings, AeroVironment's Q4 results, Ross Stores' earnings anticipation, Stitch Fix's disappointing Q2 results, and Nordstrom's expected earnings. Target and AeroVironment shares rose in after-hours trading, while Stitch Fix shares dipped significantly.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 7:20 am

ARBK

Argo Blockchain PLC (ARBK) announced the sale of its Mirabel Quebec Data Center for $6.1M and reported a 15% decrease in mining revenue for February 2024 to $4.5M, attributed to a 21% reduction in daily Bitcoin production due to maintenance-related outages and a 5% increase in average network difficulty.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:08 am